A pension fund with $40 million in assets has indicated a desire to opt out of customer suitability information requirements under FINRA Rule 2111. To allow this opt out, the underwriter must have a reasonable basis for believing that the fund I. Is exercising independent judgment in evaluating the recommendation II. Is capable of evaluating investment risks independently III. Has a documented Investment Policy Statement guiding its process and decisions

A pension fund with $40 million in assets has indicated a desire to opt out of customer suitability information requirements under FINRA Rule 2111. To allow this opt out, the underwriter must have a reasonable basis for believing that the fund I. Is exercising independent judgment in evaluating the recommendation II. Is capable of evaluating investment risks independently III. Has a documented Investment Policy Statement guiding its process and decisions

A pension fund with $40 million in assets has indicated a desire to opt out of customer suitability information requirements under FINRA Rule 2111. To allow this opt out, the underwriter must have a reasonable basis for believing that the fund
I. Is exercising independent judgment in evaluating the recommendation
II. Is capable of evaluating investment risks independently
III. Has a documented Investment Policy Statement guiding its process and decisions 











A) I and II only
B) I and III only
C) II and III only
D) I, II, III













Answer: A